International Assets Advisory, LLC – Regulatory Sanctions & Investigation
The White Law Group is investigating the regulatory history of International Assets Advisory, LLC (CRD #10645 / SEC #801-119029, 8-27736), a FINRA-registered broker-dealer headquartered in Orlando, Florida. The firm has faced multiple regulatory sanctions and has employed brokers with significant disclosure histories. Investors who suffered losses may be eligible to recover damages through FINRA arbitration.
Update: SEC Sanctions Affiliated Investment Adviser Over Undisclosed Revenue Sharing (September 2024)
On September 3, 2024, the SEC reportedly sanctioned International Assets Investment Management, LLC, the affiliated registered investment adviser that shares common ownership, office space, management, and employees with International Assets Advisory, LLC. The Commission found that from April 2018 through December 2021, the adviser failed to fully and fairly disclose to advisory clients, approximately 25% of whom were also brokerage customers of International Assets Advisory, material conflicts of interest arising from its relationship with an unaffiliated clearing broker, including:
- A $1,000,000 incentive payment International Assets Advisory received in August 2018 for transferring the bulk of its brokerage accounts, including those of advisory clients, to the clearing broker
- Approximately $158,000 in revenue sharing tied to advisory client balances in the clearing broker’s FDIC-insured bank cash sweep program
- Approximately $168,000 in revenue sharing from margin interest markups and lines of credit extended to advisory clients
The SEC found that these undisclosed arrangements gave the adviser a financial incentive to recommend margin accounts and lines of credit to its clients, and that it had not adopted adequate compliance policies to prevent the violations. International Assets Investment Management, without admitting or denying the findings, consented to a censure and to pay $900,410.37 in disgorgement, prejudgment interest, and civil penalties, which the SEC placed into a Fair Fund for distribution to affected advisory clients.
FINRA Sanctions Against International Assets Advisory
January 6, 2025 – Censure & Fine
FINRA censured International Assets Advisory and fined the firm $20,000 for failing to report certain TRACE-eligible securities transactions within the required time frames. FINRA also found that the firm’s written supervisory procedures required employees to disclose political contributions but failed to specify when disclosures were due or whether supervisors were required to review them; the firm has since amended its procedures to require mandatory quarterly disclosure. The firm consented to the sanctions without admitting or denying the findings.
December 3, 2019 – Supervisory Failures in Non-Traditional ETFs
FINRA censured and fined International Assets Advisory $35,000 and ordered $196,213 in restitution plus interest for supervisory failures tied to non-traditional exchange-traded products. The firm consented without admitting or denying the findings.
These actions, together with the SEC’s 2024 findings against its affiliated investment adviser, point to a recurring pattern of disclosure and supervisory deficiencies at International Assets Advisory and its affiliates.
Broker Misconduct at International Assets Advisory
William Conn (CRD#: 1477107)
William “Bill” Conn was briefly registered with International Assets Advisory from September 2022 through October 2023 after being terminated by Raymond James & Associates in July 2022. In an April 2025 FINRA AWC, Conn consented to a three-month suspension and a $15,000 fine over conduct that occurred while he was still at Raymond James: exercising discretion without prior written authorization in 465 transactions across 12 accounts between January 2020 and March 2021, and gifting a client $120,000 without disclosing it to his firm. Conn has also been the subject of multiple customer disputes, with settlements exceeding $2.6 million.
Henry Arthur Taylor III (CRD#: 4641256)
Taylor, who was associated with International Assets Advisory from 2019 to 2023, has nine disclosures on his BrokerCheck record. These include a 2020 FINRA suspension for selling away, multiple customer complaints, and several tax liens totaling hundreds of thousands of dollars. His record raises serious red flags regarding compliance with industry rules.
Risks for Investors
When brokerage firms like International Assets Advisory fail to adequately supervise their financial advisors, or fail to disclose conflicts of interest through affiliated advisory businesses, investors may be exposed to:
- Unauthorized or unsuitable trading
- Misrepresentation of complex products
- Selling away or participation in unapproved investments
- Undisclosed conflicts of interest tied to revenue sharing and financial incentives
- Significant financial losses tied to supervisory failures
International Assets Advisory may be held liable for investor losses resulting from its brokers’ misconduct and regulatory violations.
FINRA Arbitration for Recovery
If you have suffered investment losses with International Assets Advisory or one of its brokers, you may be eligible to recover damages through FINRA Arbitration. The process allows investors to pursue claims directly against brokerage firms for failing to supervise their representatives or disclose material conflicts of interest.
FAQs – International Assets Advisory, LLC
1. Was International Assets Advisory itself sanctioned by the SEC?
The SEC’s September 2024 order was against International Assets Investment Management, LLC, the affiliated registered investment adviser, rather than the broker-dealer directly. However, the two entities share common ownership, management, and staff, and the undisclosed conflicts involved compensation the broker-dealer received from a clearing broker.
2. What types of misconduct have been linked to International Assets Advisory brokers?
Cases involving current and former International Assets Advisory brokers have included unauthorized discretionary trading, undisclosed gifts to clients, selling away, and unsuitable recommendations, in addition to firm-level supervisory and reporting violations.
3. Can investors recover losses from International Assets Advisory or its affiliated adviser?
Yes. Investors may be able to recover losses through FINRA arbitration if they were harmed by unsuitable recommendations, undisclosed conflicts of interest, or a failure to supervise. Advisory clients affected by the 2024 SEC order may also be eligible for a distribution from the SEC’s Fair Fund.
National Securities Fraud Law Firm – The White Law Group
The White Law Group is a national securities fraud and investor protection law firm with offices in Chicago, Illinois and Seattle, Washington. With more than 30 years of experience and over 800 FINRA arbitration claims handled nationwide, our attorneys help investors recover losses from negligent brokerage firms and financial advisors.
If you believe you were a victim of misconduct involving International Assets Advisory, LLC, please call 888-637-5510 for a free consultation.
For more information, visit us online at www.whitesecuritieslaw.com.
